In the news release, Anthem notes that they plan on submitting a development application for rezoning of the site in the near future, to allow for a new ‘master-planned residential community’ in line with the City Centre Plan. The site is currently designated ‘Mixed-use / Mid to High-Rise 3.5 FAR’, similar to ‘Georgetown’ across the street, but is likely to see lower towers heights as a transition away from the core to lower density designated lands to the east.

Subject Site within City Centre Plan – designated ‘Mixed-Use / Mid to High Rise 3.5 FAR’Anthem’s proposed ‘Georgetown’ master-planned community on existing Canadian Tire / Save-On Food site

It is unclear whether the new acquisition will become an extension of ‘Georgetown’ or be marketed as a stand-alone development. Also unclear is how the project will fit into the anticipated decade-long phasing of Georgetown’s 7 towers across the street – whether the project will come to market concurrently with one of those phases or be marketed after the build-out of Georgetown.